First ever fix and flip

[Chad Nabors]

Investment Info:

Condo fix & flip investment.

Purchase price: $17,500
Cash invested: $15,000
Sale price: $59,500

Purchased my first fix and flip a few months into covid. The condo was a 2 bed 1 bath home. It had some water damage from a pipe that had burst in the utility room. Overall was in good condition and seemed to be very low risk opportunity.

What made you interested in investing in this type of deal?

Low risk, very affordable purchase price, it was a minimal project for my first flip

How did you find this deal and how did you negotiate it?

wholesaler

How did you finance this deal?

cash purchase

How did you add value to the deal?

New flooring throughout, painted kitchen cabinets, new furnace and AC, remodeled bathroom, new appliances, new light fixtures, new baseboard, new electrical panel

What was the outcome?

Very happy buyer and made some decent money for my first project